News Topic: Mobile point-of-sale

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MagicCube’s i-Accept is a hardware-free option for accepting card and electronic payments that could appeal to cost-conscious small businesses and open up a new market for banks that provide them payments services. ... Read full article

Longtime finance entrepreneur Jackie Reses, who led Square Capital for the last five years, is leaving the company at the end of the month. Square has not yet named a successor. ... Read full article

Square's gross payment volume tumbled by 15% year-over-year due to COVID-19’s impact, but revenue jumped as online selling rose, Cash App doubled in users and Square enabled almost $900 million in PPP loans. ... Read full article

Firms such as Afterpay that offer financing to shoppers have been enjoying rapid growth. But their model is under scrutiny from regulators, being mimicked by credit card lenders and faces heightened risks in a downturn. ... Read full article

The fintech Sezzle received its license after agreeing to refund customers and pay a fine for previously making loans that state regulators had deemed illegal. ... Read full article

The bank says the deal will appeal to millennials' preference for installment loans over credit cards and let consumers get an early upgrade to the next Xbox coming out next year. ... Read full article

The companies could bring something new, such as merchant acquiring to community banks, but their merger could also cause anxiety about giant vendors. ... Read full article

Small businesses short on cash can use advances from Fundbox to buy products from online suppliers. ... Read full article

The numbers behind Fiserv's deal to acquire First Data are huge, particularly considering each company's existing tonnage still makes consolidation the best play when faced with nimble fintechs and mobile startups. ... Read full article

Its mobile banking app comes with bank accounts, merchant accounts, and instant credit on invoices. Behind it is a network of community banks that will gather the deposits the app brings in. ... Read full article

The payment terminal maker Poynt, a rival to Square and other hardware providers with customized software applications for merchants, has raised $100 million in a Series C funding round with strategic partners Elavon and National Australia Bank. ... Read full article

Square Inc. is offering loans to customers to pay for goods and services from merchants that use its payments platform, another move by the company to push deeper into financial services. ... Read full article

The mobile point of sale pioneer Square has done much to expand its product range to stay competitive, and a few of those efforts have made the company more of a direct threat to banks. ... Read full article

The changes are designed to remove the complex set of fees that could vary from one mercant to another. ... Read full article

Trump’s nominee for head of bank supervision at the Fed may tackle Volcker Rule revision; rising home prices and improved job market give borrowers more options as lines of credit reset. ... Read full article

Mobile point of sale vendor ShopKeep has purchased ChowBot, an online order-and-pay software tool for restaurants, with plans to broadly integrate the new feature into its services for small businesses. ... Read full article

When Zelle launches, it will not allow users to share information about their payments with other folks in their network. That decision puts the P-to-P service on a different course than Venmo, its fast-growing rival. ... Read full article